City of Alexandria, Virginia
________________
MEMORANDUM
DATE: MARCH 5, 2026
TO: THE HONORABLE MAYOR AND MEMBERS OF CITY COUNCIL
THROUGH: JAMES F. PARAJON, CITY MANAGER
FROM: KEVIN C. GREENLIEF, DIRECTOR OF FINANCE
DOCKET TITLE:
TITLE
Consideration of the Monthly Financial Report for the Period Ending January 31, 2026.
BODY
_________________________________________________________________
ISSUE: Receipt of the Monthly Financial Report for the Period Ending January 31, 2026.
RECOMMENDATION: That City Council receives the Monthly Financial Report.
BACKGROUND: The following discussion is a summary of the Monthly Financial Report for this period. Detailed comparative schedules are attached.
As of January 31, 2026, General Fund revenues totaled $497.4 million, an increase of $8.7 million, or 1.8 percent, compared to the same period in FY 2025.
Revenue may not track consistently with a monthly calendar since many revenue sources have due dates that do not occur evenly throughout the year. The City's largest revenue source, the Real Estate tax, is remitted twice per year, in November and June. Through January, we are on target for Real Estate collections. Personal Property continues to lag through January as previously reported. Revenue from Use of Money and Property reflects a decrease of -14.7% compared to the prior year due to interest rate reductions by the Federal Reserve. The reduction was anticipated in the FY 2026 budget.
Other than Consumption Taxes, most other revenue categories are tracking as anticipated compared to the amount budgeted and no category reflects a significant variance at this time. It is important to note that no Business License data will be available until the annual returns are processed later in spring based on the March 1 due date set by State law.
Consumption taxes continue trending negative as the combined growth rate has flattened. Year-to-date receipts through January show a cumulative growth rate of -2.07% ...
Click here for full text